Technology can drive uptake of green mortgages
Lenders are sitting on an untapped opportunity, namely green mortgages. Not only are they aligned with meeting government’s commitments to mitigating climate change – in 2021, the residential sector accounted for 19.9% of all carbon dioxide emissions in the UK – but they reward homeowners with reduced interest rates and lower utility bills, resulting in more disposable income.
Considering that mortgages are a commonly held financial product, they appear to provide a simple way to make sustainability more accessible and get consumers on board with green finance. However, despite the availability of green mortgages and their benefits, many homeowners are still reluctant to retrofit.
Lenders play a leading role
During the current cost of living crisis, it is understandable that homeowners may be wary of making large investments in energy-saving measures with little understanding of the benefits. This is where lenders can play a vital role – by educating their customers about energy efficient improvements and upgrades and encouraging them to take the necessary action to achieve net zero homes and generate substantial savings.
To help achieve this, Heero Technologies has developed an App that enables lenders to reach out to customers with a powerful tool that streamlines and guides homeowners through the entire retrofit journey.
As the leading independent energy platform and powered by the most sophisticated software engine for housing in the UK, the Heero App – which is available to lenders as a white label solution, meaning that lenders can rebrand it as their own – offers the ideal solution for lenders looking to differentiate themselves by offering financial products that are both personalised and specifically targeted at home energy improvements.
For example, lenders can use the platform to present homeowners with targeted finance offers, to highlight specific measures based on their ability to improve the thermal efficiency of the property and to generate energy/heat from renewable sources, as well as to show the cost of installation and energy bills savings associated with the suggested measures. Furthermore, they can recommend installers based on customer feedback, estimated cost of work, and proximity to the householder.
Additionally, with a greater focus on Environmental, Social and Governance (ESG) measures than ever before and as the need to quantify carbon emissions and show verifiable reductions continues to grow, the technology provides lenders with a validation tool that ensures they are meeting ESG objectives. It measures the amount of carbon saved, specifically lifetime carbon savings, which is valuable as besides regulatory compliance, customers are increasingly choosing service providers based on their ESG credentials.
Retrofitting homes is a critical component of the UK’s net zero plan, with green mortgages playing a key role. By using the Heero App, lenders can offer their customers personalised home energy insights and recommendations which show what carbon-neutral changes are feasible, as well as valuable information on the financing and installation of energy-saving home improvements.
For more information, visit https://www.heerotechnologies.com/
#Retrofitting #Homeowner #App #EnergySaving #HomeImprovements #NetZero #Sustainable #GreenFinancing